While CETRA just narrowly missed the ranking for top 100 language services providers in the world, it was ranked 22nd top LSP in North America. The ranking is done by an independent marketing research company called Common Sense Advisory, who focuses solely on research for businesses in the language services industry (Source: “The Language Services Market: 2012,” Common Sense Advisory, Inc. May 2012).
CETRA can attribute some of its success to the growth of its Federal Services division, led by Matt Richman. Prime contract wins include a $2.3M single award contract with the Veterans Affairs Administration and $550,000 in single award contracts with US Marine Forces South, Army South, Southern Command, and Pacific Command. CETRA has also done work for or teamed with some of the top 100 federal contractors in the United States, including Booz Allen Hamilton, KBR Inc., BAE Systems, AECOM Technology, Mission Essential Personnel LLC, and others. CETRA also secured sponsorship for a Top Secret Facility Clearance, generating new business opportunities in the intelligence and defense sectors.
Another area of growth is the Interpretation division, completing an average of 5 conference interpretation projects per month. The acquisition of International Language Solutions in Alexandria, VA, and the opening of an office in Ireland will help continue solid growth by expanding services offered and targeting new markets.
Amongst competitors, impressive was the $50 million growth seen by Transperfect, and $20 million growth from Lionbridge. These head honchos of the industry not only maintained their top positions, but gave others a lot to catch up on.
A top competitor who chose not to participate in the ranking, Language Line, recently announced a partnership with AT&T, a leading telecommunications company. AT&T introduced a new mobile interpretation service called On Demand Interpreter, which will provide instant over-the-phone interpreters in over 170 languages via the touch of a button (*4, or “I” for interpreter).
In an overall fragmented industry, the opportunity for growth is great. Common Sense Advisory also advises that the market is growing at a rate of 12.7% per year (Source: “The Language Services Market: 2012,” Common Sense Advisory, Inc. May 2012). That is major motivation to get to work! CETRA has big plans for the rest of 2012 and 2013, so expect to see us on the top 100 list for next year.